on medicare itself, when you say ryan wants to do away with medicare, you're not being fair, not being truthful. ryan is saying the existing medicare system is an option. he's just grafting on this hybrid so when senator ron widen, a democrat, so you can have some choice in the calculation. and as michelle said, nothing changes for anybody who is 55 years and older. isn't that a starting point? i mean, we know medicare's gone bankrupt, sir. something's got to happen. what's your plan? >> one, medicare is not going bankrupt. >> would you repeat that? tell me that again. >> medicare is not going bankrupt. the plan that they produce actually asks seniors to be the first to sacrifice. again, we -- >> so medicare does not need to be reformed in any way? >> no, no, you're putting word in my mouth. >> i'm asking you, does medicare need reform? >> yes. we will negotiate improvements to medicare, strengthening -- >> there needs to be reform -- >> but not by asking seniors to be the first to sacrifice. >> if they're not the first, if they're the third, then do you reform medicare? >> don't take

they've taken $700 billion away from our seniors on medicare, not to strengthen medicare but to pay for obama care and we have a debt of almost $16 trillion, that's not the right course for our country. >> explain that, senator, and this is joe kernen. you're from wyoming. what kind of doctor are you in wyoming? do you have to be like a country doctor, you got to drive? there's nobody living there i don't think except in the ski resorts. [ laughter ] do you have to drive like 40 miles to treat someone in their home with that little black bank? bag? >> as you know joe we have a half million wonderful folks in wyoming. >> big state, senator. >> the equality state we balance our budget every year. >> i heard you guys when you were giving your delegates, but what you just said about medicare, that's the republican side, and that's the argument that they're both 00 billion plus in cuts. one says it's to bolster medicare, that's what the republicans say and they say that the 700 that the president's cutting just to pay for obama care, is there really a difference in the cuts to the average se

we can't have medicare as it is exist. why not use the cuts to bolster medicare? >> you're exactly right. we have to do something much more dramatic to save medicare and the entire health care system. >> you're not likely to see it's demagogued the way it is now? >> it's a tragedy. the political dialogue is a tragedy. we're not talking about some of the real issues. we're not talking about thebesi. we're not talking about the fact that in the last year of life, we spend most of our medicare dollar. we're not talking about the ability to demand that people have advanced directives, living wills, that we know what to do the at the end of life. >> how do we tackle obese isn't it do we tackle it through some type of government regulations or do we tackle it through some other way that makes it -- >> i'll give you my view. >> yes, that would be great. i'm trying to tackle my own obesity. you looked at my stomach. you looked right down. how's it look? >> it could do a little bet per. >> oh, my gosh. >> he's a doctor. it's his professional opinion. >> he's 36 years old.

it's called medicare advantage, almost 30% of medicare beneficiaries are in medicare advantage, so you can imagine some tweaks to that system that would perhaps bridge some of the gap here but in terms of the mega vision of moving an entire program to a defined contribution privately-run type of thing, i think that's kind of hard to bridge that gap. >> although peter, it seems to me there is room for all kinds of innovation both from introducing more competition with the insurance companies coming at it. if you look at the president's health care plan, the way it cuts costs and cuts the medicare spending happening is basically directly cutting the payments that are made to providers, something like $260 billion over the next ten years and there have been some studies, i'm sure you've seen them, that suggest that maybe one in six hospitals would no longer be profitable under this payment schedule. so it seems to me there are problems with both plans and maybe some sort of a mixture would be a better way of looking at it. >> i'm in favor of trying lots of things. my problem with the ryan

so when i found out medicare doesn't pay all my medical expenses, i got a medicare supplement insurance plan. [ male announcer ] if you're eligible for medicare, you may know it only covers about 80% of your part b medical expenses. the rest is up to you. call and find out about an aarp medicare supplement insurance plan, insured by unitedhealthcare insurance company. like all standardized medicare supplement plans, it could save you thousands in out-of-pocket costs. call now to request your free decision guide. i've been with my doctor for 12 years. now i know i'll be able to stick with him. you'll be able to visit any doctor or hospital that accepts medicare patients. plus, there are no networks, and you never need a referral. see why millions of people have already enrolled in the only medicare supplement insurance plans endorsed by aarp. don't wait. call now. >>> welcome back. the affordable care act has yet to take full effect leaving many wondering how exactly the system will look as reforms roll out. joining us now is scott gottlieb, a practicing physician or resident fellow at t

all medicare supplement plans let you keep your own doctor, or hospital that accepts medicare. there are no networks and no referrals needed. help protect yourself from some of what medicare doesn't pay... and save up to thousands of dollars in potential... out-of-pocket expenses with an aarp... medicare supplement insurance plan... insured by unitedhealthcare insurance company. call this toll-free number on your screen now... for this free information kit, including this... medicare guide and customized rate quote. welcome to the world leader in derivatives. welcome to superderivatives. >>> welcome back to "squawk on the street" >>> welcome back to "squawk." courtney reagan joins us with more on it. courtney. >> reporter: hi, good morning to you, andrew. it's hard to think of a company more american than ralph loren. he's not a historic polo player but rather an aspirational man. he designs clothes so we can dress for if life we want. that strategy has catapulted that company to a $16 billion company. sitting just below all-time highs we hit two weeks ago. ralph lauren's retai

let's take medicare as an example. >> millionaires and billionaires use it. >> in medicare as an example, there are two voluntary programs, part b, which is physicians and outpatient, and part d, prescription drugs. 95% of americans get a 75% subsidy for voluntarily signing up on those programs irrespective of their income and wealth. is that a safety net? no. and by the way, the affordable care act which expanded government promises will cost $12 trillion more than the politicians claim. government's grown too big, promised too much, waited too long to restructure. we need to get on with it. we need to make phased changes that we'll get the miracle of compounding working for us rather than against us and yes we need more revenues. how you generate the revenues matters. we need to do it through comprehensive tax reform. >> david, you're here until 9:00, you'll be back. >> i look forward to it, i'll be back. sons of the american revolution and cpa, that means i'm a patriot who can add. >> you're advertising you're a cpa? >> what's wrong with that? >> in case you have some greeks afterward

and medicare eligibility age. >> right. >> those are the two things that he's laid out for medicare and social security. >> right. >> your party's nominee last year ran against obama -- or in this campaign ran against obama for cutting medicare. what are the specific entitlement savings that you guys want to enact? because that's your ask of obama. he's told you what taxes he wants to raise. >> i've got a whole list of them. i mean, certainly starting with chain cpi, but the age, the copay, means testing. >> he's agreed to that. >> betting on competitive situation in between medicare manage and deeper service without any cap i mean it adds up to about a trillion dollars. and when you have a situation where americans are paying one-third of the cost of medicare, i don't think people realize that, but literally people are paying one-third of the cost of medicare, we have 20 million more americans coming on medicare over the next decade, i mean it's a time bomb. >> i agree with you it's a time bomb. but remember that the -- the standing document for republican boldness is the ryan budget.

all medicare supplement plans let you keep your own doctor, or hospital that accepts medicare. there are no networks and no referrals needed. help protect yourself from some of what medicare doesn't pay... and save up to thousands of dollars in potential... out-of-pocket expenses with an aarp... medicare supplement insurance plan... insured by unitedhealthcare insurance company. call this toll-free number on your screen now... for this free information kit, including this... medicare guide and customized rate quote. >>> we're back on this wednesday morning. the new york auto show is kicking off this week. we find phil lebeau with a very special guest from hyundai this morning. >> thank you, andrew. we have yet another "squawk box" exclusive and unveiling avenue model with john krafcik, head of hyundai of america. let's show people the new 2013 hyundai santa fe. >> there you go. >> people will be surprised by this. tell me about the philosophy behind this. >> we replaced every model in our lineup in the last two years. every single hyundai is brand new except santa fe. one of th

i think we need to reform medicare. a lot of problems on systems exist because of the way medicare buys services biological weapon need to pay market for insurance where it's affordable and people own it. >> we'll see what happens in just about an hour. >> thank you very

like all standardized medicare supplement plans, they pick up some of what medicare doesn't pay. and could save you in out-of-pocket medical costs every year. call today to request a free decision guide. with this type of plan, you'll be able to visit any doctor or hospital that accepts medicare patients... plus, there are no networks, and you'll never need a referral to see a specialist. if you're thinking about your options, call today. when you call, request your free decision guide. and find the aarp medicare supplement plan that may be right for you. >> we don't have a lot of time. i see what you're saying now. your version of rising above is that we go over the cliff to focus everyone on how important the abyss is so that we do something serious about the abyss. >> i'm not advocating going over the cliff. >> i kind of have for the whole show. >> i want us to get a frame work that we get a grand bargain, address the long run fiscal problem in a way let's try not to -- >> he's trying to force the issue. >> you think so too. >> that's the way we'll get to solutions. i want to

people don't want medicare trucked with. >> governor rendell when you look at the situation with medicare there's something that has to be done. we are spending that money faster than we can bring it in. >> of course. >> there is a massive overhaul that needs to be made. >> absolutely, of course. i mean, becky, the sheer fact of what we democrats have to get across to our constituents in a courageous way is when medicare was passed in the law in '65, the average life expectancy was 68, 69 years of age. today it's in the mid 80s. medicare was never meant to cover 20 years of life. >> governor, the one other thing, i do feel this a little bit, i wonder if you do, and you say you're not sure who is going to win the election, but compared to four years ago "the journal" makes a point, this really is kind of a grind to victory that the obama administration is trying to orchestrate, you know, obviously got to expand the gender gap with women and minorities but it's not going to be just a rousing endorsement by a united country to go forward. do you feel that it's a lot different than the hope a

medicare won't last. in three or four years we can't borrow enough known fund the tremendous growth in medicare. why would we continue to lie to the american people and say oh, you don't have to do a thing to medicare, elect us, we'll make sure when we know that's dishonest and untruthful. that doesn't mean we have to cut the benefits, what it means is we have to be smarter about how we apply medicare across the board. it can be done. but what you have is way too many politicians in washington wanting to play a political game and the consquens much that is the destruction of our country. it's not about winning the next election it's about whether we preserve this republic. it's time the grownups in washington say this is a real rob. they can through you and say it won't be. how many of you want to fix it and if we don't fix it what you're doing is actuallying markedly lowering the opportunities four children and grandchildren. do you want that? >> senator, are there grownups on the other side of the aisle

like all standardized medicare supplement plans, they pick up some of what medicare doesn't pay. and could save you in out-of-pocket medical costs every year. call today to request a free decision guide. with this type of plan, you'll be able to visit any doctor or hospital that accepts medicare patients... plus, there are no networks, and you'll never need a referral to see a specialist. if you're thinking about your options, call today. when you call, request your free decision guide. and find the aarp medicare supplement plan that may be right for you. >>> welcome back to "squawk box." futures right now indicated down 63. there has been -- i mean, i know andrew. you've been in a funk all day. >> i've been in a funk for three days. >> you're sad. you get sad when -- there are people short. >> warren buffett's probably hal happy day because he's buying. i should say -- >> he does tell us -- >> he said hopefully it will turn around. don't get personally invested in this. >> i'm not. >> okay. like cramer. cramer doesn't care. there's always a bull market. will he find it. oh, wait

medicare. the president said it won't be able to sustain itself no matter how much you save taxes. >> it's the same plan from 1999 bill clinton's commission with democratic senator like bob kurry and another came one the same system. >> and ron widen as a democrat in the senator and paul ryan sat down with alex rivlin and ron widen and how do we do something that makes sense on your side? he's already demonstrated he can work with the other side. >> we'll have someone on that says it's a return to trickle-down. how do you answer that? to me, if you assume the most productive and successful side of this society, that you really don't want that being successful, you're hoping that if you grow the more productive part of society that jobs are added, but if you just make an assumption that you don't want the most productive part doing well, what does that leave if there's no trickle-down, what does that leave? failing up? >> that's just a complete mischaracterization, of course, and it's a pretty f

medicare guaranteed benefits. there's no question about that, to make sure any increase in the future fall on the backs of individual seniors to figure out on their own at least $6,000 per senior already anticipated and going up from there. there's some tough decisions and choices in this budget. but the fact is that it is a plan. i was at the budget committee. i'm on the budget committee. the secretary was very clear that this is a balanced approach that will grow the economy and deal with our deficit in a fairway and make sure we grow this economy and we have to -- that's what this plan is. it's a clear plan. the republicans they don't like it. it's true. but that doesn't mean it isn't a plan that will go this economy, help make sure our tax spoil fair to middle class americans and that it actually encourages businesses to grow jobs right here in america. that's what this is about. it is a difference in opinion about how we do this. slashing and burning medicare, making sure we only protect the wealthy, this is

if i go to the hospital i pay -- my insurance pays $1.25 of my $1 of cost because medicare is paying 85 cents of their $1 of cost. but directionally i'm right on those numbers? >> correct. and that is the real problem. what bothered me at the supreme court when i went to the oral arguments on the individual mandate, the uninsured are driving the cost you up. they are but it's at the margin. what really is driving the cost up is government interference in health care and the fact they don't pay for what they have promised. >> the actual cost. they're not paying for the cost. their costs are too high to begin with, right? >> when you talk about high costs, look at 2014. when the subsidies can kick in and the exchange and people who earn $85,000 are going to have their insurance subsidized by the government if their employer drops them, and i promise you they will, this cost goes through the roof. no one has any idea -- they talk about $1 trillion orred 2 trillion this could cost $3 trillion to $5 trillion. >> representative welch, one last word. >> if you have a fee system where it enc

like all standardized medicare supplement plans, they pick up some of what medicare doesn't pay. and could save you in out-of-pocket medical costs every year. call today to request a free decision guide. with this type of plan, you'll be able to visit any doctor or hospital that accepts medicare patients... plus, there are no networks, and you'll never need a referral to see a specialist. if you're thinking about your options, call today. when you call, request your free decision guide. and find the aarp medicare supplement plan that may be right for you. ♪ welcome to the world leader in derivatives. welcome to superderivatives. >>> welcome back, everybody. let's get gown to the new york stock exchange. jim cramer joins us. we owe you huge props, not only did you call the election right, absolutely down to the wire, you called all the stock movements right, too. huge props. anybody who was listening to you made out like a bandit. >> well, thank you, becky, very kind. it's a swing state. i said everyone was going to go to obama. there was a lot of faux drama i felt. but i'll say

all medicare supplement plans let you keep your own doctor, or hospital that accepts medicare. there are no networks and no referrals needed. help protect yourself from some of what medicare doesn't pay... and save up to thousands of dollars in potential... out-of-pocket expenses with an aarp... medicare supplement insurance plan... insured by unitedhealthcare insurance company. call this toll-free number on your screen now... for this free information kit, including this... medicare guide and customized rate quote. . >>> stock of the day is walmart. shares rising on better than expected earnings and revenues. multi-year high with $62.63. so almost become it to the multi-year highs. we'll see whether it's material. and when you talk about facebook, you could talk about walmart because walmart will be valued at more than facebook. but you look at sales or all those tedious details and it's -- >> i was just thinking $100 billion in market cap, not a single smokestack, not a single part. they don't make anything. >> yes, they do. they make friends. >> our guest host is squawk mast

all medicare supplement plans let you keep your own doctor, or hospital that accepts medicare. there are no networks and no referrals needed. help protect yourself from some of what medicare doesn't pay... and save up to thousands of dollars in potential... out-of-pocket expenses with an aarp... medicare supplement insurance plan... insured by unitedhealthcare insurance company. call this toll-free number on your screen now... for this free information kit, including this... medicare guide and customized rate quote. ♪ here we are, me and you ♪ on the road ♪ and we know that it goes on and on ♪ [ female announcer ] you're the boss of your life. in charge of making memories and keeping promises. ask your financial professional how lincoln financial can help you take charge of your future. ♪ ♪ oh, oh, all the way ♪ oh, oh >>> welcome back to "squawk box." cftc chairman gary gensler joins us now on set. we've had chilton on so many times, as you have seen, and we've had some great discussions about size limits and things like that. one of the funniest things we mentio

you raised the medicare age from 65 to 66. first of all, a bunch of those seniors 65 and don't have medicare go on medicaid, another government program and the youngest healthiest in medicare. i don't think it's a good idea in terms of the health care system but doesn't save you much money. >> would you support lowering the age from 65 to 64. >> you lower the able, you're increasing the unfunded liability associated with medicare. during health care reform people said let's eliminate the 65 age and put all americans on medicare. that may have been a simpler idea but the medicare and health care system are inefficient enough that would create a huge long term liability for the government. >> it's great, congressman, you're more reasonable than our libertarian guest host. >> that's what we were talking about earlier. >> i saw it. the idea you said raising the age -- >> i did not say it. i was advancing the liberal argument because the government can bargain with a larger pool. >> medicare is so -- anyway, congressman heiimes we

all medicare supplement plans let you keep your own doctor, or hospital that accepts medicare. there are no networks and no referrals needed. help protect yourself from some of what medicare doesn't pay... and save up to thousands of dollars in potential... out-of-pocket expenses with an aarp... medicare supplement insurance plan... insured by unitedhealthcare insurance company. call this toll-free number on your screen now... for this free information kit, including this... medicare guide and customized rate quote. our >>> our guest host all morning has been richard bernstein. kelly has a question for him. >> there's a letter saying we have to end too big to fail and not only does dodd-frank not do that, it might make the big banks bigger. should we start all over, go back to square one when it comes to financial reform? >> well i have to tell you, i'm still a fan of glass-steigle. i think one of the reasons why we were was the repeal of that. i think that was a big mistake. you have to view this from an investor point of view, you have a choice between regulation and transpar

to buy our own medicare. if there's a better idea, now is the time to offer it. what's not an option is doing nothing. anyone in favor of leaving medicare as it is right now is in favor of bankrupting it. >> you've seen a rolls-royce logo. is it true there's like some campaign stuff already out there with rr on it? has there been any spoken or unspoken approaches from the romney campaign for you to be romney rubio? >> i didn't understand what you meant. >> can you tell us anything at all except i like my current job and i'm not planning on anything else? >> that's exactly what i was going to tell you -- >> you're kidding? i've never heard that one. >> listen, i appreciate it. i didn't get what you were talking about with the rr. >> rr, rolls-royce, romney-rubio. >> i'm not going to be the vice president. >> everyone talks about it. >> he says it ain't me, it rubio. >> i think rob portman would be a great vice president. >> what was that? so you're saying -- if asked you would serve, though, right? >> no, no,

all medicare supplement plans let you keep your own doctor, or hospital that accepts medicare. there are no networks and no referrals needed. help protect yourself from some of what medicare doesn't pay... and save up to thousands of dollars in potential... out-of-pocket expenses with an aarp... medicare supplement insurance plan... insured by unitedhealthcare insurance company. call this toll-free number on your screen now... for this free information kit, including this... medicare guide and customized rate quote. my high school science teacher made me what i am today. our science teacher helped us build it. ♪ now i'm a geologist at chevron, and i get to help science teachers. it has four servo motors and a wireless microcontroller. over the last three years we've put nearly 100 million dollars into american education. that's thousands of kids learning to love science. ♪ isn't that cool? and that's pretty cool. ♪ >>> coming up, we're just minutes away from the consumer price index data. as we head to break, take a look at the dow futures ahead of the numbers. "squawk bo

you know, the republicans gave in on this medicare part-d. they made it so the government does not negotiate with merck and pfizer. shouldn't that be scrapped immediately? the government really come after those guys to get breaks we all know that our hmos -- >> you're talking about when they created the department -- >> i'm just saying negotiate with the pharmacies. wouldn't that be a good way to save some money? >> that was one of the few entitlements i'm not sure i'm crazy about creating another entitlement that came in under budget because it does allow competition by citizens. >> it really crushed those drug companies. why wouldn't you want that? >> when the government's the only purchaser, that's not competition. that's waging price controls and that hasn't worked well in canada or europe when you're trying to develop new drugs. so i do worry a little bit if the government's the only purchas purchaser, i'd rather have 300 million americans making these decisions, they just -- >> you know -- >> trying to find some ways to save money. i as

most of that is in medicare. there needs to be restraint in medicare. you know, my think tank put out a plan to save $385 billion over the course of a decade in health care savings. >> how is it doing? >> we're trying to be serious about that, largely through trying to produce better delivery with more delivery reform, more accountable care, more value based medicine. more special in the health care system. we got to bring those costs down. we also kind of -- we need to expect a little bit more from wealthier medicare recipients. so i think there's got to be balance in the plan. and i think that in the end of the day, that's what the -- a big deal is all about. it's trying to get, you know, find both sides come together on that. but clearly there has to be revenue in this. >> john, if the president calls you up, and said, look, i need your advice, where can we give, right now, if we have to give a little to make this all happen, what are the -- what would you be willing to offer up? >> well, you know, i don't think -- again, i think if you'd asked me th

>> they don't for medicare. for medicare they don't cap out, it 1.45% for employer and individual unlimited on wages. for social security they cap out -- >> tease a really regressive way of taxing it. gli this one of the things to put on the table is to raise the wage base tax but not eliminate it. if you eliminate it, it's a 12.4% increase. we need more revenues but how you generate the revenue matters. the biggest problem is spending. spending is out of control. both party are responsible for that. >> we're going to have a lot more with david throughout the show. >> i know we got to run as we're focusing on the u.s. yields on the spanish ten year back above 6% right now. >> i guess 7% is the point people look at as a key dropoff rate. we'll continue to monitor that through the morning. when we come back, we're going to get joe's twitter tutorial. >> you're going to do it. >> i am. i'm going to teach you. >> the blind leading blind. >> i am a little blind but i know more than you do, if that's saying much. and

the sink guegle biggest driver medicare. so if we don't make those tough decisions now, all we've done is a european style kick the can down the road and, you know, it's tough to cut entitlements and it's tough to cap deductions. austerity doesn't have to look like just taxing your way out of it. if you want to not work, you just tax your way out of it. >> i think we have to remember that this is politics and not economics going on here. that's the most important thing i think people have to remember. and we know we want more revenue and cut spending. that's why we have the problem to begin with. you have to accept that issue. le politicians aren't willing to accept that issue yet. both are at extremes. if you accept they're both at exseee extre extremes, how did we raise revenue. because the politics, not because of economics, they will not raise marginal rates. >> although we have heard some people say they would go along with that. >> i agree. the center is actually saying that. but i think -- so if the democrats know tha

medicare, he's taken a huge hit for medicare, doesn't touch it until 2023. why does someone think we'll get between now and 2023 -- >> third rail because he can't say 2023 without getting demagog demagogued. >> what would you cut the defense budget by? >> a third. radically tell the generals put your toys way, get out your sharp pencils, we are going to bring this down to a level in real terms that eyisenhower in 1960 said we can live with when we were facing an industrial enemy that was able to do some damage to the united states. >> where would you cut? >> i would means test heavily social security, medicare, drastically reduce defense spending. >> how would you handle medicare? would you like a voucher program? >> it's too late for that. you need to simply means test it, so if you're affluent, you're going to pay a much higher premium. everybody needs to pay bigger copays, bigger deductible. >> the equivalent of raising taxes on some people. >> we have to raise taxes on everybody. the bush tax cuts, all of them, for everybody. we cannot afford them. we co

like all standardized medicare supplement plans, they pick up some of what medicare doesn't pay. and could save you in out-of-pocket medical costs every year. call today to request a free decision guide. with this type of plan, you'll be able to visit any doctor or hospital that accepts medicare patients... plus, there are no networks, and you'll never need a referral to see a specialist. if you're thinking about your options, call today. when you call, request your free decision guide. and find the aarp medicare supplement plan that may be right for you. >>> welcome back to "squawk box" on cnbc. i'm courtney reagan. i want to get you up to speed on walmart. it released quarterly earnings in the company's 8k filing something was noted we have not seen before, inquiries or investigations regarding fcpa violations have been in a number of foreign operations including but not limited to brazil, china and india. previously we knew that these investigations were going on in mexico, now it looks like there are additional allegations of potential violations in three more countries poten

half of the obligations are secondary to medicare. and without health care will not be able to manage the debt. >> the cost curve is something that the obama plan has been criticized for not attacking, the cost curve better. what needs to be done? how can we move towards trying to fix that problem in particular? >> i think lots of people have already started on this line. if you look at what we have done at the cleveland clinic, we have reduced redundant tests, we have taken costs out of procedures, out of purchasing. we have gotten more efficient as we gone along. we all recognize we have to do this for us and as the nation as a whole. we can do this. one thing besides getting a more efficient delivery system, we need to decrease the burden of disease in the united states. >> what do you mean by that? >> you can't have people smoking and an epidemic of obesity and still maintain health care costs. right now a third of the united states is obese. that is expected to go to 20% of the health care costs by 02020. one thing disappointing

it's a big medicare medicaid play if you will. so we'll keep an eye on that. >> a lot of new customers. >> shares not moving yet but you are already seeing -- >> see whether they -- >> amerigroup. what did i say? a lot of different ones there. already up at 90 bucks so we'll watch as they jump -- >> except it's not stock and won't be quite as ugly. >> but there will be questions. >> you know you could sell wellpoint but not like the stocks are going to -- >> there could be a -- typically even with cash. >>> coming up, taking off of boeing ceo mcnerney joining us. kelly got tips of how to pronounce it in the other language they speak in the uk. they see a big future in jet sales. ♪ sometimes, we go for a ride in the park. maybe do a little sightseeing. or, get some fresh air. but this summer, we used our thank youpoints to just hang out with a few friends in london. [ male announcer ] the citi thankyou visa card. redeem the points you've earned to travel with no restrictions. rewarding you, every step of the way. c'mon, michael!

governor romney said he would block the medicare program. without those changes, the programs will not be solvent going forward. >> there was a study down in the wall street journal that romney cannot get to where he wants to go with government spending and taxation without -- >> it's simply false without a matter of math. governor romney said we'll lower tax rate by 20% and broaden the base. if you lower the tax rates, you had some feedback because of behavior changes and faster growth but mofs of it would come from brace broadening. the tax -- the base broadening. >> it seems like there's so much on the line for the economy, for the budget, that it's not really been a national discussion so far. >> we need to make it one. i think governor romney and paul ryan will do their hardest to make it one. it's up to voters to decide but issues about the economy in the short term, the size of the regulatory state and size of government, what kind of financial system we want. all of this is on the table to decide. >> there was an interesting story to

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there are different codes that you can use to get reimbursements from medicare and insurance companies and they took -- they started using codes that made some of these services more expensive. and what does that mean? so i thought it was a very interesting piece about what happens not necessarily when private equity gets involved but you talk about for-profit hospital and what that always means. >> it's the greater question of whether there are certain things where the profit incentive is not a positive, it's a negative. you know how i feel -- >> there are some innovations and other things. >> here's what brac i don't know sa -- bracken said. he's a chief executive. there's no sustainable business model that doesn't have at its core a provision of high quality patient care, you can't survive. so they're doing well, stock's doing well, investors doing well, they're able to expand and to add other hospitals, they're able to upgrade facilities. if you're a hospital that's broke and going out of business, that doesn't help. if you're providing over and above -- just over the top care, whe